Safestore (LON:SAFE) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Safestore Holdings Plc (LON:SAFE) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 697.91 and traded as low as GBX 594.50. Safestore shares last traded at GBX 600, with a volume of 285,210 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reissued a “buy” rating and set a GBX 828 price target on shares of Safestore in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 824.

Safestore Price Performance

The firm has a 50-day simple moving average of GBX 625.41 and a 200-day simple moving average of GBX 697.91. The firm has a market cap of £1.31 billion, a P/E ratio of 20.20, a PEG ratio of 2.05 and a beta of 1.15. The company has a current ratio of 0.39, a quick ratio of 0.90 and a debt-to-equity ratio of 49.06.

Safestore (LON:SAFE) last released its quarterly earnings results on Thursday, June 11th. The company reported GBX 18.90 EPS for the quarter. Safestore had a net margin of 26.93% and a return on equity of 2.86%. The business had revenue of £120.60 million during the quarter. As a group, analysts forecast that Safestore Holdings Plc will post 42.6926692 EPS for the current year.

Insider Activity

In other Safestore news, insider Frederic Vecchioli acquired 50,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was purchased at an average price of GBX 603 per share, with a total value of £301,500. Insiders own 7.90% of the company’s stock.

Safestore Company Profile

Safestore is the UK's largest self storage group with 190 stores on 31 October 2023, comprising 133 wholly owned stores in the UK (including 73 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 29 wholly owned stores in the Paris region, 11 stores in Spain, 11 stores in the Netherlands and 6 stores in Belgium. In addition, the Group operates 7 stores in Germany under a Joint Venture agreement with Carlyle.